Welcome to the Illinois reverse mortgage help center.

Larry McAnarney is your Illinois licensed Reverse Mortgage Specialist

Please contact Larry for additional details and program offerings. Contact us if you would like to know how much money is available to you or request a reverse mortgage quote and fill out the appropriate information.

I have been educating and answering questions for homeowners and their families about reverse mortgage programs since 1999.

For so many homeowners age 62 and older, a Home Equity Conversion Mortgage (HECM) – also known as a reverse mortgage loan – could be a flexible and effective way to turn the equity you have in your home into funds you can use.

My experience is broad and deep in financial services dedicated to senior households. Today, as a Reverse Mortgage Specialist, my focus is on helping homeowners 62 and older, and their families, understand the reverse mortgage loan process from end to end.

Some Fast Facts About Larry McAnarney

Co-Author, The Road to Success (Celebrity 2016), Amazon Bestseller

Quoted in Bloomberg Businessweek (Dec 2015)

Featured in The Reverse Review (Jan 2016)

Professional Affiliations

Member of the Society of Certified Senior Advisors since 2006

Member of the Board of Directors of the Financial Planners Association, West Surburban Council

Volunteer, AARP Representative Payee Program since 2009

Member of the National Association of Insurance and Financial Advisors

Illinois Specific Reverse Mortgage Information

Please Contact Us to receive reverse mortgage information from a company that's experienced and licensed in Illinois.

Basic Reverse Mortgage Requirements

Borrowers must be age 62 years or older

Own their home and have enough equity to qualify

Occupy the home as primary residence

Receive counseling by an approved HUD/FHA counselor

The home must be in reasonably good repair

What is a reverse mortgage?

A Home Equity Conversion Mortgage, or HECM, is a flexible financial product designed for homeowners aged 62 and older. The loan is insured by the Federal Housing Administration (FHA) so that borrowers will not owe more than the value of the home at maturity. With a HECM, also known as a reverse mortgage, you can convert some of the equity in your home into cash to meet financial goals, such as supplementing retirement income, buying a new home, maintaining a quality lifestyle, or preparing for a more secure and rewarding financial future.

All that happens all without giving up ownership or control of your home and without having to make monthly mortgage payments. Of course, as homeowners, you are responsible for occupying the home as your primary residence, keeping up with property maintenance, and staying current on paying property taxes, required insurance and any homeowners’ fees.

Instead of repaying the loan in monthly installments, you or your estate repay the principal, accrued fees and interest when you no longer live in the home.

When it comes to getting your payment, you determine how you’d like to receive your funds based on your individual financial needs and objectives. For example:

A monthly payment will supplement your income each month.

A lump sum will provide your available funds at once, subject to initial disbursement limits.

A line of credit will allow you to withdraw cash as you need it.

Any combination of the above will give you the added value of flexibility to meet your personal financial requirements.

Reverse Mortgage Specialist

815-703-4745

Verified Reviews

(65)

Expertise and Professionalism Undoubtedly an expertise and professionalism in handling my father's reverse mortgage and its logistical challenge of myself being the lead and voice on my father's part. This was complicated by me being based about a 1000 miles away from my Dad but Larry leaped over all obstacles like a real PRO. I truly appreciate his extreme patience throughout this whole process.

Juan V — Nov 12, 2018

A pleasant experience Larry McAnarney was very professional yet warm in his dealing with both my wife and me. Our experience during the entire process was a pleasant one.

Paul C — Jan 30, 2014

Larry is the Best!! I was referred to Larry and could not be happier for the result. I had a unique circumstance, I was just out of bankruptcy and I had to save my house from foreclosure. I just got in under the time to qualify from the better limits under the old rules for a larger line of credit. Because my bankruptcy estate was not fully complete I had to get a court order from the bankruptcy judge to remove my house from my bankruptcy estate. With a time limit of 12/31/13 to close the financing, which I had to have to pay off the amount due to get out of foreclosure. Once I had the court order, Larry did a miracle in getting the paper work complete to close. I ended up closing the reverse mortgage on 12/31/13 at 12:30 pm, just 4.5 hours left in the year to close the deal! Larry saved my house and life. I can never express the amount of gratitude I have for his great service. THANK YOU LARRY!!!!!

This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.